SouChe.com Growing in China

SouChe.com has recently raised $335 million in a funding round that was led by Alibaba Group Holding Ltd. They are a Chinese care trading site and are looking to expand in auto-financing and to potentially hit the American market. Alibaba is actually going to become the biggest backer of the site and they will integrate it into their own e-commerce services.

SouChe founder Yao Junhong said, “We are considering a U.S. IPO for next year, potentially towards the end of the year. But our finances are strong so we may not have to do it.”